@TechReport{iza:izadps:dp9258,
            	author={Hansen, Jörgen and Lkhagvasuren, Damba},
            	title={New Evidence on Mobility and Wages of the Young and the Old},
            	year={2015},
	month={Aug},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={9258},
            	url={https://www.iza.org/publications/dp9258},
	abstract={We present new evidence on the wage and mobility of young and old workers, which is difficult to explain using standard human capital theory. Instead, we propose a simple dynamic extension of the Roy model, where worker migration and wages are jointly determined at the individual level. According to this model, a higher moving cost among older workers is the main factor driving the lower mobility among this group. Because of the higher moving costs, older workers require a higher wage increase to move across regions than younger workers, a pattern that is consistent with individual-level U.S. data. We also find an interesting dynamic effect suggesting that, given a persistent labor income shock, a higher future moving cost makes workers more mobile today.},
	keywords={geographic mobility;labor mobility by age;labor income shock;moving cost;multi-sector model},
            }